Troubled Liberty Steel is to cut production and make some of its smaller plants idle, putting more than 400 jobs at risk as part of a restructuring deal, it said., said it plans to suspend operations at two British plants and trim output at others due to high power prices.
“The production of some commodity grade products at Rotherham and downstream mills has become unviable in the short term, due to high energy costs and imports,” it said.
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Liberty Steel blames 'unviable' market as restructuring threatens hundreds of jobsThe company says that rather than making staff redundant, it is proposing to keep them on but under new terms. Sanjeev Gupta owner of Liberty Steel is worth £1.2 billion!! Surely he could afford to run at a loss for a year or so to see if 'viable market' settles a bit before restructuring'. Sounds like he could look after his hardworking staff better eh? ToryCostOfGreedCrisis GENow pikaso_me screenshot this Taking a f*cking Liberty.
Source: SkyNews - 🏆 35. / 67 Read more »